Yes Penofin. Other than that any film finish will look like crap in a
year or two if the chair endures any real weather (sun, or rain/snow).
It will be pretty much impossible to repair without a complete
dissamble and total sanding.

Or no finish at all. Mahogany is one of the woods that can take it.
Just don't let the legs stand in water, mud lawn for the whole winter.